“My CIBIL Says I Am Listed As a Guarantor on Loans, What Do I Do?” – Ask CreditSmart

If You Are Listed As A Guarantor, But Are Not – Act Fast

Hi TeamI check my cibil score then see the score is good but also see that I am guarantor for any loan pls give details about that loans

ThanksVikas

Hello Vikas,

This is quite a problematic issue. You seem to be unaware that you were a guarantor on a loan, so if you did not sign on to be a guarantor than you have to resolve this error quickly. Though your CIBIL score may be fine now, it appears someone may have used your name to qualify for a loan, and if they do not pay the lender may ask you to pay. Your CIBIL score could suffer as a result of any issues that may arise while sorting this out.

Act Quickly

What you need to do is get your full CIBIL report directly from CIBIL.com immediately, and it should list the lenders who are reporting you as a guarantor. Next step, call them and inform them this is in error. Be ready to provide proof of identity or have anything ready that will assure them you are not the guarantor. Most importantly, go to CIBIL.com’s Dispute Resolution page and follow the steps.

This happens all the time to people, so no need to be worried yet. Any errors can be fixed or stopped before they become a problem. This is why it’s good to always stay on top of your CIBIL file so you can protect and grow your CIBIL so it’s there when you need it.